Rates round-up: Canada opts for 75bp raise

Bank-of-Canada-HQ
Bank of Canada/Flickr

Canada: The Bank of Canada raised its main interest rate by 75 basis points today (September 7), opting for a smaller increase than the full percentage point hike at the previous meeting. The decision took the rate to 3.25%.

Canada benefitted from a decline in consumer price index inflation in July, which fell to 7.6% from 8.1% a month earlier. But the central bank said the drop had mainly been driven by falling gasoline prices; excluding gasoline, inflation has broadened and continued to climb

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